Avid Announces Agreement to Acquire Euphonix

Comprehensive range of audio and video control surfaces and consoles

expands Avid portfolio to provide seamless interoperability across broad

spectrum of third-party solutions for every customer

Avid today announced that it has entered into a definitive agreement to

acquire Mountain View, CA-based Euphonix, a leader in large-format

digital audio consoles, media controllers and peripherals.  With the

acquisition, Avid will deliver a broad range of audio and video control

surfaces and consoles designed to meet the needs of customers ranging

from the independent professional to the high-end broadcaster.  Avid

plans to continue to support and sell both Euphonix control surfaces and

Avid's existing ICON solution, enabling customers to leverage existing

investments in industry-leading hardware.

"This acquisition greatly expands our portfolio to offer customers a

complementary set of workflow solutions-from independent producers

creating music in their home studios to broadcasters preparing segments

for national broadcast," said Gary Greenfield, chairman and CEO, Avid.

"We remain committed to driving interoperability and modularity across a

vast ecosystem of Avid and third-party creative hardware and software

solutions.  And, as audio and video workflows continue to converge, we

are now well positioned to deliver control surfaces that work across

both audio and video applications, making the content creation process

more cost-effective and efficient for our customers."

Avid plans to further develop an open standard protocol that greatly

expands the ecosystem of compatibility between the Euphonix control

surfaces and a wide range of Avid and third-party audio and video

applications, including Media Composer and Pro Tools. For existing

Euphonix customers, Avid will continue to support EuCon- the Euphonix

high-speed Ethernet protocol that enables its control surfaces to

interface with third-party software.

The transaction is expected to close at the end of April.